The Block reports that the Banana Gun team is currently investigating reports of a user wallet breach and has temporarily shut down the platform.
Several community members have reported that wallets linked to the Banana Gun Telegram bot have been compromised, resulting in drained assets.
One community member, known as yannickcrypto.eth, stated that approximately 563 ETH (about $1.4 million) has been stolen so far, affecting 36 victims.
However, they noted that there isn’t enough evidence to confirm that Banana Gun itself was hacked.
In response, the Banana Gun team has announced on Telegram that they are looking into the situation and have taken the bot offline.
While the incident has raised alarms among users, experts are advising caution when using the Banana Gun platform.
A U.S. court has handed down a 30-year prison sentence to Mohammed Azharuddin Chhipa, who was found guilty of financing terrorism through cryptocurrency.
A major chapter in crypto’s legal reckoning closed this week as Alex Mashinsky, once a prominent name in digital lending, received a 12-year prison sentence.
Former Celsius CEO Alex Mashinsky is asking for a significantly reduced prison sentence ahead of his May 8 sentencing, with his legal team pushing back hard against the U.S. Department of Justice’s call for a 20-year term.
The legal battle against the creators of Samourai Wallet has taken a sharp turn, as defense attorneys accuse federal prosecutors of suppressing a key legal interpretation from the Treasury Department that could dismantle the core of the government’s case.